The NFT Boom—But With a Twist
Something big just happened in the NFT world. Doodles NFT, one of the most well-known collections, saw a massive spike in trading volume—hitting $16 million in just one week. What caused this sudden explosion? A new memecoin called $DOODS, launched on the Solana blockchain.
This isn’t just about one NFT project. More and more Ethereum-based NFT collections are launching memecoins on Solana. Pudgy Penguins did it with $PENGU, and Azuki followed with $ANIME. But here’s the real question: Is this a new opportunity, or is it just hype?
What’s Happening? Step by Step
- Doodles Announces $DOODS Memecoin
- Doodles, originally an Ethereum-based NFT collection, announced it would launch its own memecoin on Solana.
- This caused a trading frenzy, driving weekly trading volume to $16 million.
- NFT Prices Jump—Then Fall
- When the announcement was made, Doodles’ floor price (the cheapest NFT in the collection) shot up to 6.3 ETH.
- But soon after, it settled back at around 4 ETH.
- Why Are NFTs Launching Memecoins on Solana?
- Ethereum is expensive → Gas fees are high, making frequent trades less profitable.
- Solana is cheaper & faster → It has an active memecoin trading community.
- Two Chains, Two Benefits → NFT projects stay premium on Ethereum while tapping into Solana’s liquidity and trading hype.
- The Reality Check: What Happened to Other Memecoins?
- $PENGU (Pudgy Penguins’ token) dropped 69% in 30 days.
- $ANIME (Azuki’s token) dropped 40% in 30 days.
- Despite initial excitement, prices tend to crash after the hype fades.
Why This Matters to You
- Memecoins are now part of NFT projects → This could be a new trend or just a short-lived bubble.
- Ethereum NFTs are moving toward Solana → Understanding why projects make this move can help you predict future trends.
- Hype vs. Reality → Just because an NFT collection announces a memecoin doesn’t mean it will hold its value.
Key Words to Remember
- NFT-Memecoin Convergence → NFTs launching their own memecoins.
- Dual-Chain Strategy → Projects using Ethereum for NFTs but Solana for trading.
- Diminishing Returns → The hype fades, and prices drop.
The Bigger Picture
The crypto space constantly evolves, and this is a prime example of how projects adapt to market conditions. The question now is: Will memecoins help NFT projects survive, or are they just another short-term money grab?
If you’re investing in NFTs or memecoins, understanding these patterns can help you avoid traps and find real opportunities. This isn’t just news—it’s a lesson in how crypto trends rise and fall.
